Alumis (NASDAQ:ALMS) Given “Buy” Rating at HC Wainwright

Alumis (NASDAQ:ALMS)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $26.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 201.27% from the stock’s current price.

Several other equities research analysts also recently weighed in on ALMS. Robert W. Baird assumed coverage on shares of Alumis in a report on Thursday, October 31st. They issued an “outperform” rating and a $25.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Alumis in a report on Thursday, November 14th. Finally, Baird R W raised Alumis to a “strong-buy” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.83.

Alumis Price Performance

Shares of ALMS opened at $8.63 on Friday. Alumis has a fifty-two week low of $7.66 and a fifty-two week high of $13.53. The stock has a 50 day simple moving average of $10.24.

Institutional Investors Weigh In On Alumis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in Alumis in the 3rd quarter worth about $27,000. MetLife Investment Management LLC purchased a new stake in shares of Alumis during the third quarter worth $89,000. Barclays PLC acquired a new stake in shares of Alumis in the third quarter valued at about $197,000. Maven Securities LTD acquired a new position in Alumis during the second quarter worth about $332,000. Finally, State Street Corp purchased a new stake in Alumis during the 3rd quarter valued at about $866,000.

About Alumis

Our mission is to significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Our name, Alumis, captures our mission to enlighten immunology, and is inspired by the words “allumer”-French for illuminate-and “immunis”-Latin for the immune system. We are a clinical stage biopharmaceutical company with an initial focus on developing our two Tyrosine Kinase 2 (TYK2) inhibitors: ESK-001, a second-generation inhibitor that we are developing to maximize target inhibition and optimize tolerability, and A-005, a central nervous system (CNS) penetrant molecule.